Northern Oil and Gas (NYSE:NOG) PT Lowered to $50.00 at Citigroup

Northern Oil and Gas (NYSE:NOG) had its price objective lowered by Citigroup from $55.00 to $50.00 in a research report report published on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.

NOG has been the topic of a number of other research reports. StockNews.com raised shares of Northern Oil and Gas from a sell rating to a hold rating in a report on Thursday. Stifel Nicolaus raised their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Morgan Stanley increased their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Finally, Bank of America downgraded Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 target price for the company. in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $47.90.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $0.34 during trading on Friday, reaching $40.59. The stock had a trading volume of 1,176,202 shares, compared to its average volume of 1,284,432. The stock has a market capitalization of $4.10 billion, a PE ratio of 6.58 and a beta of 1.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. Northern Oil and Gas has a 52 week low of $29.57 and a 52 week high of $43.75. The business’s 50-day moving average price is $39.61 and its 200 day moving average price is $37.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The business’s revenue was down 31.9% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas will post 5.46 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock valued at $436,614 over the last three months. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jump Financial LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth approximately $4,462,000. Ninepoint Partners LP raised its position in Northern Oil and Gas by 12.5% during the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after acquiring an additional 50,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Northern Oil and Gas by 34.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock valued at $555,000 after acquiring an additional 3,848 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Northern Oil and Gas by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Northern Oil and Gas by 38.6% in the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after purchasing an additional 116,983 shares during the period. Institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.